Indo-British trade forum opens in Pune

British Business Group, which aspires to be a forum for networking among businesses that have interests in the United Kingdom or have some connection with Britain, was inaugurated here on Tuesday evening in the presence of British Deputy High Commissioner Vicki Treadell.

The forum is expected to work as a platform to discuss issues related to the smooth functioning of businesses that have a British connection, Vandana Saksena-Poria said.

"These could be issues connected to infrastructure or governance, which can be addressed as a closely knit community," Vandana added.

There are 67 British companies in Pune, which are either wholly-owned subsidiaries or joint ventures, and over 200 businesses, which have a Britain connection, she pointed out.

In addition to the informal networking, the forum will meet on the first Tuesday of every month to discuss a specific subject of interest to all members, she added.

Treadell noted that the bilateral trade between India and Britain has been showing a robust progress and that it will benefit both the nations if the pace is sustained.

Major companies in Britain are looking at opening operations in Pune, Treadell added. Three companies are soon going to invest in the region, she said, adding that JCB was one of them. She did not name the other two.

"Apart from the now well-established businesses such as information technology, manufacturing and BPOs, sunrise businesses like retail have a strong chance of doing well in the Pune market," Treadell said.

Pointing out to the fact that last year, for the first time ever, Indian investment in the UK exceeded British investments in India, Treadell reasoned out that this largely indicates that Indian companies are finding partners from UK to fill the gap in their global value chain.

She also added that the Indian companies have opportunities to acquire British businesses in automotives, pharmaceuticals, healthcare, telecom and financial services, as the UK industry is undergoing a major restructuring process.

Treadell informed that at least half a dozen British industry delegations are scheduled to visit Pune in the next six to eight months.